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Strong Demand Seen by ICBC Credit Suisse.
(From SinoCast China Financial Watch)
BEIJING, December 06, SinoCast -- ICBC Credit Suisse Asset Management Co, China's first fund manager controlled by a bank, has finished raising more than CNY 12 billion for a stock fund within only one working day, far beating its original plan of collecting about CNY 5 billion. The local joint venture of Credit Suisse started the fund's sale on December 1 and stopped it the next day, or Saturday, thanks to the warm welcome from investors around the country, representing the shortest ever time for a fund sale in China. Investors were from Guangdong, Beijing and Shanghai, the three traditional hot markets of fundholders, but also …
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